New York Life Investment Management LLC Purchases 38,942 Shares of PG&E Co. (NYSE:PCG)

New York Life Investment Management LLC grew its position in shares of PG&E Co. (NYSE:PCG) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,639 shares of the utilities provider’s stock after acquiring an additional 38,942 shares during the quarter. New York Life Investment Management LLC’s holdings in PG&E were worth $6,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. raised its stake in shares of PG&E by 13.8% in the third quarter. First Trust Direct Indexing L.P. now owns 27,142 shares of the utilities provider’s stock worth $438,000 after purchasing an additional 3,299 shares during the last quarter. Artemis Investment Management LLP raised its stake in shares of PG&E by 6.2% during the 4th quarter. Artemis Investment Management LLP now owns 7,598,807 shares of the utilities provider’s stock worth $137,009,000 after purchasing an additional 446,848 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PG&E by 9.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock worth $16,639,000 after buying an additional 76,178 shares during the last quarter. LPL Financial LLC grew its position in PG&E by 8.9% during the third quarter. LPL Financial LLC now owns 1,987,389 shares of the utilities provider’s stock valued at $32,057,000 after buying an additional 162,476 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in PG&E by 78.7% during the third quarter. Mackenzie Financial Corp now owns 654,687 shares of the utilities provider’s stock worth $10,036,000 after buying an additional 288,280 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Stock Up 0.2 %

Shares of NYSE:PCG opened at $17.57 on Friday. The firm has a fifty day moving average price of $16.65 and a two-hundred day moving average price of $16.94. The company has a market cap of $37.55 billion, a price-to-earnings ratio of 15.69 and a beta of 1.26. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93. PG&E Co. has a one year low of $14.71 and a one year high of $18.32.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.29 earnings per share. Analysts anticipate that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio is currently 3.57%.

Analyst Ratings Changes

PCG has been the subject of a number of research reports. Barclays increased their target price on shares of PG&E from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. The Goldman Sachs Group began coverage on PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, PG&E presently has a consensus rating of “Moderate Buy” and an average price target of $19.11.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by company insiders.

PG&E Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.